Returning guests: The NJ industry has recovered from storm damage and returned to steady growth

Over the past five years, the Hotels and Motels industry in New Jersey has experienced some of its largest growth for the past decade. However, industry operators spent the beginning half of the period rebuilding and recovering from the devastation of Hurricane Sandy, preventing them from operating at full capacity. Beginning in 2016, the industry was finally able to completely recover from the destruction and post positive revenue growth for the first time in over a decade. This trend was amplified through 2017 as tourism regained its foothold in New Jersey, especially along the shore, a major region for hotel and motel establishments. Growth in tourism demand enabled establishments to rehire workers, increasing industry employment at an annualized rate of 2.6% to 25,517 workers...purchase to read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 13-18
2.0%
Forecast Growth 18-23
Profit
Employment
25,517
Businesses
1,085

Industry Threats & Opportunities

  • Operators spent the start of the period recovering from the devastation of Hurricane Sandy, preventing them from operating at full capacity
  • Additional Insights for the Hotels & Motels in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hotels & Motels in New Jersey Industry are

  • Access to multiskilled and flexible workforce
  • Being part of a franchising chain
  • Receiving the benefit of word-of-mouth recommendations
  • IBISWorld analysts also discuss how external factors such as Consumer spending in New Jersey and Consumer Confidence Index in the Hotels & Motels in New Jersey industry impact industry performance..

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    What's in this report

    What is the Hotels & Motels in New Jersey Industry?

    Operators in this industry provide short-term lodging in hotels, motor hotels (motels) and resort hotels. Establishments may also offer food and beverage services, recreational services, conference room and convention services, laundry services, parking and other services. This industry excludes hotels that have casino facilities attached.

    Industry Products
  • Room or unit accommodation for travelers and others
  • Alcoholic beverages
  • Meals prepared for immediate consumption
  • Meals prepared for catered events
  • Industry Activities
  • Operating short-term hotels
  • Operating short-term motor hotels
  • Operating short-term resort hotels
  • Operating short-term motels
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending in New Jersey
  • Consumer Confidence Index
  • Domestic trips by US residents
  • Inbound trips by non-US residents
  • External competition for the Hotels and Motels Industry

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hotels & Motels in New Jersey Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • International Airlines
  • Domestic Airlines
  • Travel Agencies
  • Tour Operators
  • Public Administration
  • Consumers

  • Key Selling Industries
  • Beef & Pork Wholesaling
  • Beer Wholesaling
  • Computer & Packaged Software Wholesaling
  • Dairy Wholesaling
  • Egg & Poultry Wholesaling
  • Fish & Seafood Wholesaling
  • Fruit & Vegetable Wholesaling
  • Furniture Stores
  • TV & Appliance Wholesaling
  • Wine & Spirits Wholesaling

  • Products & Services
  • Room or unit accommodation for travelers and others
  • Meals prepared for immediate consumption
  • Meals prepared for catered events
  • Other
  • Alcoholic beverages
  • Chart: Hotels & Motels in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Domestic leisure travelers
  • International leisure travelers
  • Business travelers
  • Events and incentive travelers
  • Chart: Major Market Segmentation for the Hotels & Motels in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Hotels & Motels in New Jersey

  • Basis of Competition
    Barriers to Entry
    Marriott International, Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, Wyndham Destinations,
  • Table: Marriott International - financial performance
  • Table: Hilton Worldwide Holdings Inc. - financial performance
  • Table: InterContinental Hotels Group PLC - financial performance
  • Table: Wyndham Destinations - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Hotels & Motels in New Jersey Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Hotels & Motels in New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Domestic Trips by US Residents (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Computer Reservation Systems (Crs)
  • Computerized systems used to store and retrieve information and conduct transactions related to travel.
  • Revenue Per Available Room (Revpar)
  • A measurement that is calculated by multiplying a hotel's average daily room rate by its occupancy rate.
  • Room Rate
  • Actual published room tariffs.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Hotels & Motels in New Jersey Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Hotels & Motels in New Jersey industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Hotels & Motels in New Jersey:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hotels & Motels in New Jersey market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hotels & Motels in New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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